🚀 $SUI Technical Analysis June 06, 2025: PRICE STANDS AT $2.9728 WITH BEARISH MOMENTUM ⚠️

📊 Market Insight
• Current Price: 2.9728 USDT
• Moving Averages (MAs) indicate a bearish trend.
• Volume has decreased, suggesting lower trading activity compared to recent levels.
• MACD shows a bearish signal.
• RSI values are approaching oversold territory.

📊 Important Levels to Watch
🔼 Resistance Levels:
2.9857
3.0872 (MA(25))
3.2248 (MA(99))

🔽 Support Levels:
2.8467
2.8000 (psychological support)
2.7000

💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $2.9857
☑️ Entry Point: $3.0000 (enter if price breaks above 2.9857 with bullish momentum confirmation)
🎯 Price Target:
TP1: $3.0872
TP2: $3.2248
🛑 Stop Loss: $2.9700 (below the resistance to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 2.9857, an increase in volume, RSI(6) rising above 50, and a MACD bullish crossover with DIF moving above DEA.

🐻 Bearish Trade Setup: Breakdown below $2.8467
☑️ Entry Point: $2.8300 (enter if price breaks below 2.8467 with bearish momentum confirmation)
🎯 Price Target:
TP1: $2.8000
TP2: $2.7000
🛑 Stop Loss (SL): $2.8600 (above the current support)
⚠️ Confirmation: Watch for a strong bearish candle close below 2.8467, sustained high volume, RSI(6) falling below 30 (deeper into oversold), and the MACD showing a continued bearish trend with DIF dropping further below DEA.

📌 Suggestion to Open Positions Today:
The RSI is approaching oversold territory (RSI(24) at 36.71), suggesting a potential short-term bounce, but the overall trend remains bearish, as confirmed by the moving averages and MACD. Traders should exercise caution, waiting for a clear breakout above $2.9857 for a bullish setup or a breakdown below $2.8467 for a bearish move. Given the low volume and nearing oversold RSI, a reversal could be on the horizon. Use tight stop losses to manage risk effectively in this volatile environment.

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